Utkarsh Small Finance Bank launches first branch in Mumbai

Mumbai: Utkarsh Small Finance Bank launched its first Mumbai branch with this first General Banking Branch (at Chembur in Mumbai) and 37 existing JLG Branches, Utkarsh has presence in 9 districts of Maharashtra. Utkarsh has started its banking operations in January, 2017 after receiving the final nod from RBI. Hitherto, Utkarsh had been operating as NBFC-MFI with 374 Branches pan India.

The inauguration was done by Mr. Kajal Ghose, Independent Director- Utkarsh Small Finance Bank along with Dr. M.L Sukhdeve, Chairman of Maharashtra State Cooperative Bank. Speaking on the occasion, Mr Ghose said that it is an auspicious day for all at Utkarsh and in the past years Utkarsh had made a lot of recognition for itself as a MFI institution. He expressed that Utkarsh would replicate that name, vision, mission and the core values, keeping customers in the centre under the Banking space. He further mentioned that Utkarsh has plans to cater MSME, Urban deposits and retail deposits by addressing their needs and thereby reducing cost of funds. Further, he addressed the team and wished them good luck for the future. Mr. Sukhdeve also wished the Bank and its team for their future success.

Commenting on the inauguration of the branch in Mumbai, Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank said, “We are pleased to venture into Mumbai. This launch is aligned with the Bank’s strategy to extend its reach and offer entire gamut of financial services including credit, savings, investments and insurance products to customers across Maharashtra. The new branch aims at deepening relationships and attracting new customers, thus strengthening Utkarsh Small Finance Bank’s client base. As we expand into deeper geographies to serve the local populace, we look forward to bring a whole new world of convenience and flexibility to customers.”